Return to the Community Banker Home Page
The E-mail Banking News |
|
FFIEC information technology audits - As a former bank examiner with over 40 years IT audit experience, I will bring an examiner's perspective to the FFIEC information technology audit for bankers in Texas, New Mexico, Colorado, and Oklahoma. June 28, 2018 - Economic Growth to Accelerate in 2018 and Then Ease in 2019 as Auto Sales Downshift By William A. Strauss , Thomas Haasl - According to participants in the Chicago Fed’s annual Automotive Outlook Symposium, the nation’s economic growth is forecasted to improve this year and then moderate close to its long-term average in 2019. www.chicagofed.org/publications/chicago-fed-letter/2018/399 June 28, 2018 - Comptroller’s Handbook: Revised and Updated Booklets and Rescissions - The Office of the Comptroller of the Currency issued today the revised1 “Bank Supervision Process,” “Community Bank Supervision,” “Compliance Management Systems,” and “Large Bank Supervision” booklets of the Comptroller’s Handbook. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-18.html June 28, 2018 - FEDS Notes - (Don't Fear) The Yield Curve - Eric Engstrom and Steven Sharpe - Commonly cited measures of the term spread, such as the difference between the 10-year and 2-year nominal Treasury yields, have dropped over the past several years, a trend that has raised concerns and provoked extensive commentary in the financial press. www.federalreserve.gov/econres/notes/feds-notes/dont-fear-the-yield-curve-20180628.htm June 28, 2018 - Federal Reserve releases findings from study of small business owners' perspectives on online lenders and products - The Federal Reserve Board and the Federal Reserve Bank of Cleveland on Thursday published Browsing to Borrow: "Mom & Pop" Small Business Perspectives on Online Lenders. www.federalreserve.gov/newsevents/pressreleases/other20180628a.htm June 27, 2018 - NCUA to Host Share Insurance Webinars - hare insurance is a fundamental part of the nation’s credit union system, and credit union professionals can learn more about how it works on two upcoming webinars hosted by the National Credit Union Administration. www.ncua.gov/newsroom/Pages/news-2018-june-ncua-host-share-insurance-webinars.aspx June 27, 2018 - Speech by Vice Chairman for Supervision Quarles on America's vital interest in global efforts to promote financial stability Vice Chairman for Supervision Randal K. Quarles At the Utah Bankers Association 110th Annual Convention, Sun Valley Inn, Sun Valley, Idaho. www.federalreserve.gov/newsevents/speech/quarles20180627a.htm June 26, 2018 - NCUA - Community Development Grant Round Opens July 1 - Approximately $2 Million Available; Application Deadline is Aug. 18 - Low-income credit unions interested in applying for Community Development Revolving Loan Fund grants can begin submitting applications July 1. www.ncua.gov/newsroom/Pages/news-2018-june-community-development-grant-round-opens-july.aspx June 26, 2018 - Community Bank Webinar: Current Expected Credit Losses Methodology Q&A Webinar for Community Bankers - The federal banking agencies, in conjunction with the Financial Accounting Standards Board, the U.S. Securities and Exchange Commission, and the Conference of State Bank Supervisors, will host an interagency webinar on Monday, July 30, 2018, at 1:00 p.m., Eastern Time, focusing solely on questions received from community bankers about the new credit losses accounting standard, which introduces the current expected credit losses methodology. www.fdic.gov/news/news/financial/2018/fil18034.html June 26, 2018 - Financial Heterogeneity and Monetary Union - Simon Gilchrist, Raphael Schoenle, Jae W. Sim, and Egon Zakrajsek - We analyze the economic consequences of forming a monetary union among countries with varying degrees of financial distortions, which interact with the firms' pricing decisions because of customer-market considerations. www.federalreserve.gov/econres/feds/files/2018043pap.pdf June 26, 2018 - Manual - Reserve Maintenance Manual - The Reserve Maintenance Manual provides information regarding reserve calculations and account maintenance for depository institutions that file the Federal Reserve 2900 form with the Federal Reserve, either weekly or quarterly. www.federalreserve.gov/monetarypolicy/reservereq-reserve-maintenance-manual.htm June 26, 2018 - Federal Reserve Board issues enforcement actions with former employee of East Cambridge Savings Bank and former employee of SmartBank. www.federalreserve.gov/newsevents/pressreleases/enforcement20180626a.htm June 25, 2018 - Chicago Fed National Activity Index Points to Slower Economic Growth in May - Led by declines in production-related indicators, the Chicago Fed National Activity Index fell to –0.15 in May from +0.42 in April. www.chicagofed.org/~/media/publications/cfnai/2018/cfnai-june2018-pdf.pdf June 25, 2018 - St. Louis Fed President James Bullard named Top Workplace Leader - James Bullard, president and CEO of the Federal Reserve Bank of St. Louis, was named the Top Workplace Leader among large employers, according to the 2018 Top Workplaces of St. Louis, sponsored by the St. Louis Post-Dispatch. www.stlouisfed.org/news-releases/2018/06/25/st-louis-fed-president-james-bullard-named-top-workplace-leader June 25, 2018 - Cleveland Fed President Mester to Speak at 2018 Fed/CSBS Community Banking Research Conference - Federal Reserve Bank of Cleveland President Loretta J. Mester will deliver the opening keynote address at the sixth annual Community Banking in the 21st Century research and policy conference that will be held Oct. 3-4 at the Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2018/06/25/cleveland-fed-president-mester-to-speak-at-2018-fed-csbs-community-banking-research-conference June 25, 2018 - The Money View Versus the Credit View - Sarah S. Baker, David López-Salido, and Edward Nelson - We argue that Schularick and Taylor's (2012) comparison of credit growth and monetary growth as financial-crisis predictors does not necessarily provide a valid basis for achieving one of their stated intentions: evaluating the relative merits of the "money view" and "credit view" as accounts of macroeconomic outcomes. www.federalreserve.gov/econres/feds/files/2018042pap.pdf June 25, 2018 - Agencies release list of Distressed or Underserved Nonmetropolitan Middle-income Geographies - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today announced the availability of the 2018 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act consideration under the community development definition. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20180625a.htm Press Release: www.fdic.gov/news/news/press/2018/pr18038.html Press Release: www.ffiec.gov/press/pr062518.htm June 22, 2018 - Gender-Related Differences in Credit Use and Credit Scores - Geng Li - Although gender-related discrepancies have been researched extensively in the labor market and other contexts, relatively little is known regarding gender-related differences in credit market experiences. www.federalreserve.gov/econres/notes/feds-notes/gender-related-differences-in-credit-use-and-credit-scores-20180622.htm June 22, 2018 - Home Country Interest Rates and International Investment in U.S. Bonds - John Ammer, Stijn Claessens, Alexandra Tabova, and Caleb Wroblewski - We analyze how interest rates affect cross-border portfolio investments. www.federalreserve.gov/econres/ifdp/files/ifdp1231.pdf June 22, 2018 - Nothing is Certain Except Death and Taxes: The Lack of Policy Uncertainty from Expiring "Temporary" Taxes - Andrew C. Chang - What is the policy uncertainty surrounding expiring taxes? How uncertain are the approvals of routine extensions of temporary tax policies? www.federalreserve.gov/econres/feds/files/2018041pap.pdf June 22, 2018 - Statistical Release - Large Commercial Banks - The Federal Reserve Board compiles quarterly data on domestically chartered insured commercial banks that have consolidated assets of $300 million or more and releases the data about twelve weeks after the end of each quarter. www.federalreserve.gov/releases/lbr/ June 22, 2018 - An Output Gap Measure for the Euro Area: Exploiting Country-Level and Cross-Sectional Data Heterogeneity - Manuel P. Gonzalez-Astudillo Abstract: This paper proposes a methodology to estimate the euro-area output gap by taking advantage of two types of data heterogeneity. www.federalreserve.gov/econres/feds/files/2018040pap.pdf June 22, 2018 - Statistical Release Minority-Owned Depository Institutions - Historically, the Federal Reserve Board compiled quarterly data on depository institutions that participate in the Treasury’s Minority Bank Deposit Program. Beginning with the June 30, 2015 Release Date, depository institutions that participate in the FDIC’s Minority Depository Institutions Program have been added in addition to depository institutions defined by the Treasury. www.federalreserve.gov/releases/mob/ June 22, 2018 - Credit and Liquidity Programs and the Balance Sheet -Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm June 22, 2018 - Restoration of the Protecting Tenants at Foreclosure Act - This letter provides background information about the recently restored Protecting Tenants at Foreclosure Act of 2009,1 which became effective on June 23, 2018. www.federalreserve.gov/supervisionreg/caletters/caltr1804.htm June 22, 2018 - Federal Reserve Board announces termination of enforcement action with First South Bancorp. www.federalreserve.gov/newsevents/pressreleases/enforcement20180622a.htm June 21, 2018 - NCUA - Field-of-Membership Rule Changes Provide More Flexibility and Consumer Choice. https://www.ncua.gov/newsroom/Pages/news-2018-june-field-membership-rule-changes-provide-flexibility-consumer-choice.aspx June 21, 2018 - OCC Reports First Quarter 2018 Bank Trading Revenue - The Office of the Comptroller of the Currency reported trading revenue of U.S. commercial banks and federal savings associations of $8.2 billion in the first quarter 2018, which was $3.2 billion, or 62.8 percent, higher than the previous quarter. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-66.html _________________________________ June 21, 2018 - OCC Reports First Quarter 2018 Bank Trading Revenue - The Office of the Comptroller of the Currency reported trading revenue of U.S. commercial banks and federal savings associations of $8.2 billion in the first quarter 2018, which was $3.2 billion, or 62.8 percent, higher than the previous quarter. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-66.html June 20, 2018 - Navigating Pension Reform in Illinois By Rick Mattoon , Sarah Wetmore - Illinois is one of several states facing severe state and local public pension crises, but it is uniquely constrained in its ability to address the problem due to recent judicial rulings that all but prohibit pension benefit changes for current and retired public employees. www.chicagofed.org/publications/chicago-fed-letter/2018/398 June 20, 2018 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on June 20, 2018. Matter(s) considered: Update on Comprehensive Capital Analysis and Review and Dodd-Frank Stress Tests 2018. www.federalreserve.gov/aboutthefed/boardmeetings/20180620closed.htm June 20, 2018 - June 20, 2018 - Where�s the Money Going? The Importance of Accounting for Rent Payments in Measuring a Household�s Financial Obligations - Andrew C. Chang, Joanne W. Hsu, Sarah J. Pack, and Michael G. Palumbo - According to the Federal Reserve Board's Survey of Consumer Finances, in 2016 about 12 percent of American families' monthly income was needed to cover payments associated with the various types of debt they owed--mostly mortgages, car loans, student loans, and credit card bills. www.federalreserve.gov/econres/notes/feds-notes/importance-of-accounting-for-rent-payments-in-measuring-households-financial-obligations-20180620.htm June 20, 2018 - Speech by Chairman Powell on monetary policy at a time of uncertainty and tight labor markets Chairman Jerome H. Powell At "Price and Wage-Setting in Advanced Economies," an ECB Forum on Central Banking, Sintra, Portugal. www.federalreserve.gov/newsevents/speech/powell20180620a.htm June 19, 2018 - NCUA - May 2018 NCUA Board Meeting Video Available - The video recording of the May 24, 2018, open meeting of the National Credit Union Administration Board is now available on the agency�s website. www.ncua.gov/newsroom/Pages/news-2018-june-may-board-meeting-available.aspx June 19, 2018 - Regulatory Relief --Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Hawaii Affected by Volcanic Eruption and Earthquakes - The FDIC announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Hawaii affected by volcanic eruption and earthquakes. www.fdic.gov/news/news/financial/2018/fil18033.html June 19, 2018 - How vulnerable are EME corporates? - Daniel O. Beltran and Christopher G. Collins - Nonfinancial corporate debt in emerging market economies has tripled since the global financial crisis, reaching a peak of $25 trillion (110 percent of GDP) in 2016:Q1. www.federalreserve.gov/econres/notes/ifdp-notes/how-vulnerable-are-eme-corporates-20180619.htm June 19, 2018 - OCC Reports Mortgage Performance Unchanged - Performance of first-lien mortgages remained unchanged during the first quarter of 2018 compared with a year earlier, according to the Office of the Comptroller of the Currency�s quarterly report on mortgages. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-65.html June 18, 2018 - Detroit Economic Activity Index - The Detroit Economic Activity Index measures growth in economic activity for the city of Detroit. The index is constructed using a mixed-frequency dynamic factor model of 23 Detroit-specific data series capturing income, employment, residential and commercial real estate activity, electric customer counts, tax revenues, and port activity. www.chicagofed.org/publications/deai/index June 18, 2018 - NCUA Board Chairman McWatters Congratulates Rodney Hood on Board Nomination - National Credit Union Administration Board Chairman J. Mark McWatters today issued the following comment on President Donald J. Trump�s announced intention to nominate Rodney Hood to the agency�s Board: www.ncua.gov/newsroom/Pages/news-2018-june-chairman-mcwatters-congratulates-rodney-hood-board-nomination.aspx June 18, 2018 - Sydney Menefee Named Deputy Comptroller and Chief Accountant - The Office of the Comptroller of the Currency today announced the selection of Sydney Menefee to be the agency�s next Deputy Comptroller and Chief Accountant. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-64.html June 18, 2018 - St. Louis Economic Briefing: Globalization and International Trading Relationships - Local economists and area leaders will discuss how globalization and international trading relationships affect St. Louis-based companies and the St. Louis metropolitan area at a breakfast meeting Wednesday, June 20, at The Federal Reserve Bank of St. Louis. www.stlouisfed.org/news-releases/2018/06/18/st-louis-economic-briefing-globalization-and-international-trading-relationships June 18, 2018 - Statistical Release - Minority-Owned Depository Institutions. www.federalreserve.gov/releases/mob/ June 18, 2018 - Statistical Release - Large Commercial Banks. www.federalreserve.gov/releases/lbr/ June 18, 2018 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 1:30 p.m. on June 20, 2018. Matter(s) considered: Update on Comprehensive Capital Analysis and Review and Dodd-Frank Stress Tests 2018. www.federalreserve.gov/aboutthefed/boardmeetings/20180620closed.htm June 15, 2018 - The Risks of Pricing New Insurance Products: The Case of Long-Term Care By Zain Mohey-Deen , Richard J. Rosen - This article examines what happens when incorrect assumptions are made in pricing new insurance products. The focus is on the mispricing of long-term care insurance�which led to the insolvency of Penn Treaty. www.chicagofed.org/publications/chicago-fed-letter/2018/397 June 15, 2018 - A Monetarist View of the Fed�s Balance Sheet Normalization Period - By Marcelo Veracierto - The Federal Reserve currently holds over $4 trillion in fixed-income assets. However, since the fall of 2017 the Fed has been in a �balance sheet normalization period,� during which the size of its balance sheet is gradually shrinking over time. www.chicagofed.org/publications/economic-perspectives/2018/2 June 15, 2018 - Community Reinvestment Act: Supervisory Policy and Processes for Community Reinvestment Act Performance Evaluations - The Office of the Comptroller of the Currency is fully committed to an effort to modernize the Community Reinvestment Act. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-17.html June 15, 2018 - OCC Enforcement Actions and Terminations for June 2018 - The Office of the Comptroller of the Currency today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-63.html June 15, 2018 - Federal Reserve Bulletin - Survey of Finance Companies, 2015 - Finance companies are nondepository financial firms whose primary business is providing debt and lease financing to consumers and businesses. www.federalreserve.gov/publications/2018-bulletin.htm June 15, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm June 15, 2018 - Legal Interpretations - Bank Holding Company Act, May 17, 18, and 30, 2018 www.federalreserve.gov/supervisionreg/legalinterpretations/bhc_changeincontrol2018.htm June 15, 2018 - On the Geographic Scope of Retail Mortgage Markets - Dean Amel, Elliot Anenberg, and Rebecca Jorgensen - Recently, a rising and elevated spread between the primary mortgage rate and the mortgage backed security yield has raised some concerns that a lack of competition in the mortgage market may be raising prices for borrowers and impeding the pass-through of monetary policy to households. www.federalreserve.gov/econres/notes/feds-notes/on-the-geographic-scope-of-retail-mortgage-markets-20180615.htm June 15, 2018 - Monitoring the World Economy: A Global Conditions Index - Pablo Cuba-Borda, Alexander Mechanick, and Andrea Raffo - The global financial crisis reminded academics and policymakers that the world economy is highly integrated. www.federalreserve.gov/econres/notes/ifdp-notes/monitoring-the-world-economy-a-global-conditions-index-20180615.htm June 15, 2018 - Statistical Release - Industrial Production and Capacity Utilization - G.17 - Industrial production edged down 0.1 percent in May after rising 0.9 percent in April. Manufacturing production fell 0.7 percent in May, largely because truck assemblies were disrupted by a major fire at a parts supplier. www.federalreserve.gov/releases/g17/Current/default.htm June 15, 2018 - Innovation and Trade Policy in a Globalized World - Ufuk Akcgit, Sina T. Ates, and Giammario Impullitti - How do import tariffs and R&D subsidies help domestic firms compete globally? How do these policies affect aggregate growth and economic welfare? www.federalreserve.gov/econres/ifdp/files/ifdp1230.pdf June 15, 2018 - What Macroeconomic Conditions Lead Financial Crises? - Michael T. Kiley - Research has suggested that a rapid pace of nonfinancial borrowing reliably precedes financial crises, placing the pace of debt growth at the center of frameworks for the deployment of macroprudential policies. www.federalreserve.gov/econres/feds/files/2018038pap.pdf - June 15, 2018 - Agencies issue host state loan-to-deposit ratios - The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. Press Release: www.federalreserve.gov/newsevents/pressreleases/bcreg20180615a.htm Press Release: www.fdic.gov/news/news/press/2018/pr18037.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-62.html June 14, 2018 - State Credit Union Data Show Positive Trends Continue in Q1 2018 - Nationally, median loan growth in federally insured credit unions was 5.0 percent during the year ending in the first quarter. Median asset growth was 2.2 percent; the median rate of growth in shares and deposits was 2.1 percent; and the median loans-to-shares ratio was 64 percent. www.ncua.gov/newsroom/Pages/news-2018-june-state-credit-union-data-show-positive-trends-first-quarter.aspx June 14, 2018 - Open Board Meeting Memoranda - An Open Board meeting of the Board of Governors of the Federal Reserve System will be held at 2:30 p.m. on June 14, 2018. Matter(s) considered: Final rule to establish single-counterparty credit limits for large U.S. bank holding companies and foreign banking organizations and related regulatory reporting proposal. www.federalreserve.gov/aboutthefed/boardmeetings/20180614open.htm June 14, 2018 - Federal Reserve Board approves rule to prevent concentrations of risk between large banking organizations and their counterparties from undermining financial stability - As demonstrated during the financial crisis, excessive exposure between the largest financial institutions spread contagion and eroded confidence in these institutions. www.federalreserve.gov/newsevents/pressreleases/bcreg20180614a.htm June 14, 2018 - Federal Reserve Board approves action by the Board of Directors of the Federal Reserve Bank of New York - The Federal Reserve Board has approved action on Thursday by the Board of Directors of the Federal Reserve Bank of New York, increasing the discount rate at the Bank from 2-1/4 percent to 2-1/2 percent, effective immediately. www.federalreserve.gov/newsevents/pressreleases/monetary20180614a.htm ________________________ June 14, 2018 - Comptroller of the Currency Discusses Priorities for the Federal Banking System - Comptroller of the Currency Joseph M. Otting today discussed his priorities for the agency and the federal banking system during testimony before the Senate Committee on Banking, Housing, and Urban Affairs. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-61.html June 13, 2018 - Comptroller of the Currency Testifies on his Priorities - Comptroller of the Currency Joseph M. Otting today discussed his priorities for the agency and the federal banking system during testimony before the House Financial Services Committee. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-60.html June 13, 2018 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at on June 12, 2018 and continued at 9:00 a.m. on June 13, 2018. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/recentpostings.htm June 13, 2018 - Federal Reserve Board announces approval of application by Ameris Bancorp - The Federal Reserve Board on Wednesday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by Ameris Bancorp, Moultrie, Georgia, to acquire Hamilton State Bancshares, Inc., and thereby indirectly acquire Hamilton's subsidiary bank, Hamilton State Bank, both of Hoschton, Georgia. www.federalreserve.gov/newsevents/pressreleases/orders20180613a.htm June 13, 2018 - Federal Reserve Board and Federal Open Market Committee release economic projections from the June 12-13 FOMC meeting - The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the June 12-13 meeting. www.federalreserve.gov/newsevents/pressreleases/monetary20180613b.htm June 13, 2018 - Federal Reserve issues FOMC statement - Information received since the Federal Open Market Committee met in May indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate. www.federalreserve.gov/newsevents/pressreleases/monetary20180613a.htm June 12, 2018 - Interagency Notification of Formal Enforcement Actions: Interagency Policy Statement - The Federal Financial Institutions Examination Council today rescinded its revised policy statement on �Interagency Coordination of Formal Corrective Action by the Federal Bank Regulatory Agencies,� dated February 20, 1997. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-16.html June 12, 2018 - Federal Reserve Board issues enforcement action with Ashley Burrus and announces termination of enforcement action with Patterson Bankshares, Inc. www.federalreserve.gov/newsevents/pressreleases/enforcement20180612a.htm June 8, 2018 - The KCFSI suggests financial stress remains muted - The Kansas City Financial Stress Index decreased from -0.37 in April to -0.54 in May. www.kansascityfed.org/~/media/files/publicat/research/indicatorsdata/kcfsi/2018/06-2018/kcfsi_0518.pdf June 8, 2018 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 1:00 p.m. on June 12, 2018. Matter(s) considered: Discussion of Monetary Policy Issues. www.federalreserve.gov/aboutthefed/boardmeetings/20180612closed.htm June 8, 2018 - Credit and Liquidity Programs and the Balance Sheet- Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm June 8, 2018 - Publications - Annual Performance Report 2017 - The Government Performance and Results Act of 1993 requires federal agencies to prepare a strategic plan covering a multiyear period and requires each agency to submit an annual performance plan and an annual performance report. www.federalreserve.gov/publications/gpra.htm June 7, 2018 - T+2 Securities Transaction Settlement Cycle: Final Rule - The Office of the Comptroller of the Currency published a final rule in the Federal Register to shorten the standard settlement cycle for securities purchased or sold by national banks, federal savings associations, and federal branches and agencies. www.occ.treas.gov/news-issuances/bulletins/2018/bulletin-2018-15.html June 7, 2018 - Newly Formed Money Smart Advance Team Will Get Early Access to, Training on, Updated Money Smart for Adults - The FDIC has formed the new Money Smart Advance Team. Banks that engage in financial education activities, or plan to do so, and who join the MSAT will get an early look at the updated instructor-led Money Smart for Adults curriculum, scheduled for release in September, and other benefits. www.fdic.gov/news/news/financial/2018/fil18032.html June 7, 2018 - Statistical Release - Mortgage Debt Outstanding. www.federalreserve.gov/data/mortoutstand/current.htm June 7, 2018 - Federal Reserve Board announces schedule for results from Dodd-Frank Act stress tests and Comprehensive Capital Analysis and Review - esults from the latest supervisory stress tests conducted as part of the Dodd-Frank Act will be released on Thursday, June 21, and the results from the related Comprehensive Capital Analysis and Review will be released on Thursday, June 28, the Federal Reserve Board announced on Thursday. www.federalreserve.gov/newsevents/pressreleases/bcreg20180607a.htm ____________________ June 7, 2018 - OCC to Host Innovation Office Hours in Denver - The Office of the Comptroller of the Currency today announced it will hold Innovation Office Hours, August 7 and August 9, in Denver to promote responsible innovation in the federal banking system. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-59.html June 7, 2018 - Newly Formed Money Smart Advance Team Will Get Early Access to, Training on, Updated Money Smart for Adults - The FDIC has formed the new Money Smart Advance Team. Banks that engage in financial education activities, or plan to do so, and who join the MSAT will get an early look at the updated instructor-led Money Smart for Adults curriculum, scheduled for release in September, and other benefits. www.fdic.gov/news/news/financial/2018/fil18032.html June 7, 2018 - Notice of Open Board Meeting - An Open Board meeting of the Board of Governors of the Federal Reserve System will be held at 2:30 p.m. on June 14, 2018. Matter(s) considered: Final rule to establish single-counterparty credit limits for large U.S. bank holding companies and foreign banking organizations and related regulatory reporting proposal. www.federalreserve.gov/aboutthefed/boardmeetings/20180614open.htm June 7, 2018 - Statistical Release - Financial Accounts of the United States - Z.1 - he Financial Accounts of the United States includes data on transactions and levels of financial assets and liabilities, by sector and financial instrument; full balance sheets, including net worth, for households and nonprofit organizations, nonfinancial corporate businesses, and nonfinancial noncorporate businesses; Integrated Macroeconomic Accounts; and additional supplemental detail. www.federalreserve.gov/releases/z1/current/default.htm June 6, 2018 - NCUA Releases Q1 2018 Credit Union System Performance Data - Data on the financial performance of federally insured credit unions in the quarter ending March 31, 2018, are now available from the National Credit Union Administration. www.ncua.gov/newsroom/Pages/news-2018-june-ncua-releases-q1-credit-union-system-performance-data.aspx June 6, 2018 - OCC Issues Third and Fourth Quarter 2018 CRA Evaluation Schedule - The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the third and fourth quarters of 2018. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-58.html June 6, 2018 - Bao Nguyen and Ted Dowd Named Deputy Chief Counsels - The Office of the Comptroller of the Currency today announced the selection of Bao Nguyen and Ted Dowd to serve as Deputy Chief Counsels. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-57.html June 6, 2018 - LMCI suggest the level of activity increased modestly and momentum remained high in May - The Kansas City Fed Labor Market Conditions Indicators suggest the level of activity increased modestly and momentum remained high in May. www.kansascityfed.org/~/media/files/publicat/research/indicatorsdata/lmci/2018/lmci_060618.pdf June 6, 2018 - Report to the Congress - Annual Report 2017 - Report on operations of the Board during the year. Provides minutes of Federal Open Market Committee meetings, financial statements of the Board and combined financial statements of the Reserve Banks, financial statements for Federal Reserve priced services, information on other services provided by the Reserve Banks, directories of Federal Reserve officials and advisory committees, statistical tables, and maps showing the System's District and Branch boundaries. www.federalreserve.gov/publications/annual-report.htm June 6, 2018 - Fedwire Funds Services, Fedwire Securities Services, and National Settlement Service quarterly data. www.federalreserve.gov/paymentsystems.htm June 6, 2018 - Federal Reserve Board announces approval of application by TriCo Bancshares - The Federal Reserve Board on Wednesday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by TriCo Bancshares, Chico, California, to merge with FNB Bancorp and thereby indirectly acquire FNB Bancorp's subsidiary bank, First National Bank of Northern California, both of South San Francisco, California. www.federalreserve.gov/newsevents/pressreleases/orders20180606a.htm June 5, 2018 - Agencies Ask for Public Comment on Proposal to Simplify and Tailor "Volcker Rule" - Five federal financial regulatory agencies on Tuesday announced that they are jointly asking for public comment on a proposal that would simplify and tailor compliance requirements relating to the �Volcker rule.� www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-56.html June 5, 2018 - FDIC Issues List of Banks Examined for CRA Compliance - The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings that the FDIC assigned to institutions in March 2018. www.fdic.gov/news/news/press/2018/pr18035.html June 5, 2018 - Jelena McWilliams Sworn in as the 21st Chairman of the FDIC - Jelena McWilliams was sworn in today as the 21st Chairman of the Federal Deposit Insurance Corporation. She succeeds Martin J. Gruenberg, who has served on the FDIC Board since August 22, 2005, as Vice Chairman and Acting Chairman before becoming Chairman on November 29, 2012. www.fdic.gov/news/news/press/2018/pr18034.html June 5, 2018 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:15 a.m. on June 4, 2018. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20180604closed.htm June 4, 2018 - Solid but Moderating Economic Growth Expected Through 2019, Chicago Fed Automotive Outlook Symposium Participants Say - The 25th annual Automotive Outlook Symposium was held in Detroit on Friday, June 1, and drew more than 40 participants from the manufacturing and banking industries, as well as consulting and service firms and academia. www.chicagofed.org/~/media/others/events/2018/automotive-outlook-symposium/aos-press-release-pdf.pdf June 4, 2018 - St. Louis Fed to Demonstrate Interactive Community Investment Tools - Did you know that Cincinnati has received more than seven times the amount of affordable housing investment from Community Development Financial Institutions as Louisville? www.stlouisfed.org/news-releases/2018/06/04/st-louis-fed-to-demonstrate-interactive-community-investment-tools June 4, 2018 - Volcker Rule: Prohibitions on Proprietary Trading and Certain Relationships with Hedge Funds or Private Equity Funds - The Federal Deposit Insurance Corporation, Federal Reserve Board, Office of the Comptroller of the Currency, Securities and Exchange Commission, and Commodity Futures Trading Commission have requested comment on a proposal that would amend the Volcker Rule to provide banking entities with clarity about what activities are prohibited, improve supervision and implementation of the Rule, and simplify compliance. www.fdic.gov/news/news/financial/2018/fil18031.html June 4, 2018 - Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System was held at 11:15 a.m. on June 4, 2018. Matter(s) considered: Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks. www.federalreserve.gov/aboutthefed/boardmeetings/20180604closed.htm June 1, 2018 - NCUA - Board Approves Changes to Member Business Lending Rule - Removal of Occupancy Requirement for 1-to-4-Unit Dwellings Takes Loans Out from Under Lending Cap - Federally insured credit unions will no longer have to count loans made on any 1-to-4-unit family dwellings as member business loans after a vote by the National Credit Union Administration Board. https://www.ncua.gov/newsroom/Pages/news-2018-june-board-approves-changes-member-business-lending-rule.aspx June 1, 2018 - OCC Releases CRA Evaluations for 32 National Banks and Federal Savings Associations - The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act performance evaluations that became public during the period of May 1, 2018 through May 31, 2018. www.occ.gov/news-issuances/news-releases/2018/nr-occ-2018-55.html June 1, 2018 - Joint Final Rule: Securities Transaction Settlement Cycle - On May 31, 2018, the FDIC Board of Directors approved the attached final rule, issued jointly with the Office of the Comptroller of the Currency, to shorten the standard settlement cycle for securities purchased or sold by FDIC-supervised institutions, national banks, and federal savings associations from three days to the number of business days in the standard settlement cycle followed by registered broker dealers in the United States. www.fdic.gov/news/news/financial/2018/fil18030.html June 1, 2018 - Joint Release/Agencies Issue Final Rulemaking to Shorten Settlement Cycle - The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation today issued a final rule to shorten the standard settlement cycle for securities purchased or sold by OCC-supervised and FDIC-supervised institutions. Press Release: www.fdic.gov/news/news/press/2018/pr18033.html Press Release: www.occ.gov/news-issuances/news-releases/2018/nr-ia-2018-54.html June 1, 2018 - Efficient Mismatch - David M. Arseneau and Brendan Epstein - This paper presents a model in which mismatch employment arises in a constrained efficient equilibrium. In the decentralized economy, however, mismatch gives rise to a congestion externality whereby heterogeneous job seekers fail to internalize how their individual actions affect the labor market outcomes of competitors in a common unemployment pool. www.federalreserve.gov/econres/feds/files/2018037pap.pdf June 1, 2018 - How Does Intergenerational Wealth Transmission Affect Wealth Concentration? - Laura Feiveson and John Sabelhaus - Wealth concentration is high and rising in the US, reigniting an old debate within economics about the role that intergenerational wealth transmission plays in understanding savings and wealth accumulation. www.federalreserve.gov/econres/notes/feds-notes/how-does-intergenerational-wealth-transmission-affect-wealth-concentration-20180601.htm June 1, 2018 - FOIA Chairman Powell's calendar, April 2018. www.federalreserve.gov/foia/chairmanscalendar-042018.htm June 1, 2018 - Statistical Release - Industrial Production and Capacity Utilization - G.17, Technical Q&As update - his page provides additional information about data in the Board of Governors' statistical release on Industrial Production and Capacity Utilization. www.federalreserve.gov/releases/g17/g17_technical_qa.htm June 1, 2018 - Advanced Notice of a Meeting under Expedited Procedures - A closed meeting of the Board of Governors of the Federal Reserve System will be held under expedited procedures at 9:00 a.m. on June 5, 2018. Matter(s) considered: Periodic Supervisory Update. www.federalreserve.gov/aboutthefed/boardmeetings/20180605closed.htm June 1, 2018 - Credit and Liquidity Programs and the Balance Sheet - Recent balance sheet trends, weekly chart update. www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm June 1, 2018 - Statistical Release - Foreign Exchange Rates - G.5 - The table below shows the average rates of exchange in MAY 2018 together with comparable figures for other months. www.federalreserve.gov/releases/g5/current/default.htm |
FYI - Don't forget to follow me on LinkedIn at https://www.linkedin.com/in/yennik where I post a weekly question on IT and cybersecurity auditing.
You can receive the regulatory press releases every week by subscribing to
The E-mail Banking News at
https://yennik.com/newletter_page.htm.
There is no charge for the e-newsletter.
Contact R. Kinney Williams at
examiner@yennik.com
if you have any questions.
| PLEASE NOTE: Some of the above links may not function properly because the regulatory agency has changed the URL. Please e-mail us at examiner@yennik.com if we can be of assistance. |